If some business is defensively buying off all the competition, that’s an easy ATM for a serial entrepreneur, especially if the large business is price gouging: found a competitor, grow it e.g. with some like-minded funding, sell it at a premium. Wait for the clauses of the contract to run out, and rinse and repeat.
The defensive acquisitions can work on domains with gravity effects to a degree, but those are domains are far from being the total market.